A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

July 12, 2008

25 comments:

Nothing is "Too big to Fail" if it truly is it shouldn't exist. It controls too much market, is too much of a liability,and more than likely is costing too much anyway.

Let's face it, if it was a 200lb cancerous tumor and you walked into you Dr's office he wouldn't start doing everything he could to sustain it and make it grow to 400lbs.

NO BAILOUTS OF ANYTHING! Let it all go down and let the dust settle and we start again from zero. Yes it will suck and we may well look like Zimbabwe for a time. Better that than so many in the next 2-3 generations paying for the hijinx, greed, and unethical behavior of so few of a past one.

Bailouts won't save the dollar, won't save the banks, and won't save the people, won't save the shareholders. The only ones that will benefit from bailouts will be the CEOs and Officers. Bailouts will simply give them more time to quietly load more riches into the life boat before the quietly slip it into the sea and stealthily paddle into the night. never once announcing to all on board that the Titanic has hit an iceberg.

Nothing "Is too big to fail" They are just creations of Man. Man existed before and can exist after, anyone that tells you otherwise is a liar.

That should be our new battle cry, we need T-Shirts, Bumber Stickers, etc that simply say NEVER! "Too Big To Fail"

Instead of bailing out these institutions or pairing them up and making them even larger with shotgun weddings we should be instead hammering on them and tearing them apart using the Sherman and Clayton Acts to tear these turmors apart and kill them off.http://tinyurl.com/2wrfg3

Theodore Roosevelt knew this 100 years ago, are we so stupid as to not be able to learn from our own history??

"The American term anti-trust arose not because the US statutes had anything to do with ordinary trust law, but because the large American corporations used trusts to conceal the nature of their business arrangements. Big trusts became synonymous with big monopolies, the perceived threat to democracy and the free market these trusts represented led to the Sherman and Clayton Acts."http://tinyurl.com/6xbmvc

I'd say we've readily reached the "American corporations used trusts to conceal the nature of their business arrangements."and the perceived threat to democracy and the free market

Their importance to the housing market and overall economy is hard to overstate: Fannie and Freddie either hold or back $5.3 trillion of mortgage debt, or about half the outstanding mortgages in the United States.

"Without them, our economy would collapse," Piper Jaffray analyst Robert P. Napoli said in a note to clients.

79/21 chance that election is postponed due to "unforeseen economic events that could unduly influence the vote of the American people, therefore I, The Decider, am deciding to postpone the election until I decide the unforeseenable economics events will not unduly influence the American peoples ability to decidify for their elected officicants", King George the Retarded

> Honey bee crisis could lead to higher food prices> http://news.yahoo.com/s/ap/20080626/ap_on_go_co/sick_bees> We lose the bees, we lose everything

Oh, bees... they have a special meaning in times of crises!

10 years ago, in August 1998, the 2nd Russian Duma was expected to come up with some emergency legislation to prevent a government default. Instead the members adopted a Federal Law on Beekeeping. Must have been an extremely important piece of legislation given the circumstances.

CNN telling us why pulling our troops out of Iraq won't actually save us anything. They say since it's all deficit spending, it doesn't actually count as real money and ending the war now won't save us a penny. Get it? Stuff you charge on credit cards doesn't count as real spending and if you stop recklessly running up debt tomorrow, you won't save any money. I thought FOX had some stupid propoganda, but this segment takes the cake.

Inaction, Complacency, and willful ignorance is what brought the U.S. crashing down. And that's not from the top...that's you and I. Pat yourself on the back armchair quarterbacks--there is nobody in the world to blame but yourself. You get the government you deserve.

The trouble with the guarantees that Fannie and Freddie make on mortgages is that in good times, they're superfluous—it's easy to get a mortgage even without that guarantee—while in the bad times, such as now, it becomes clear that the guarantees are only as good as the U.S. government's credit.

Fannie Mae and Freddie Mac showered huge paychecks and bonuses on their top executives when times were good. Now that money is tight, Administration officials are quietly discussing how to stage a possible bailout if matters get worse. It's a classic example of privatized gains and socialized losses. That's why this might be the right time to let the two wither away.